Which of the following is a correct statement? multiple choice economic concepts or laws that are valid during recessions are necessarily valid during prosperity. because economics is primarily concerned with questions of "ought," it is a branch of applied ethics and not scientific. economists use the scientific method. therefore, economic laws are as quantitatively precise as the laws of physics or chemistry. although they are generalizations, economic laws are useful because they allow us to predict and therefore influence or adjust to events.

Although they are generalizations, economic laws are useful because they allow us to predict and therefore influence or adjust to events.

Explanation:

Economics is not a concrete, exact science such as physics, as it does not describe natural particles, but rather humans and their interaction with money. Therefore, its laws are sometimes generalized in order to be formulated properly. However, even if there are exceptions to be found in those rules, these laws are useful for the society as a rule of thumb in important economic decisions. Also, they can help us predict the future's course of action.

answer/// there is an inverse relationship between price and quantity demanded;